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. ramin mellegard joins us from the business desk. we saw many americans celebrating the re-election of president obama but it seems the mood was different on wall street. >> it really was. we're seeing the reactions following the elections. investors really concerned about tax and spending issues and that's going to be a major focus going forward. government spending cults and tax hikes are set to go into effect at the end of the year. the so-called fiscal cliff. investors worry obama will be unable to resolve the crisis with the house of representatives still controlled by the republicans. the key index on the new york stock exchange fell sharply when markets reopened after the election. the dow jones industrial average at one point lost over 360 points. the index finished the day at 12,932, down 2.3% from the previous day's close. new york stocks dliped from the start as investor concerns shifted to how obama will address the country's economic challenges. they're particularly worried the fiscal cliff could weigh down u.s. growth into the new year. >> it's a pretty sad da
covering the congress. he told us more about the main players in china's transition of power. >> reporter: we've got an idea who will head up china's next generation of leaders. we've heard their names before, xi jinping and li keqiang. and we'll be hearing them for years to come. they'll be chosen for top communist party posts next week and unveiled to the world. analysts say xi will become general secretary, taking over for president hu jintao. chinese vice president xi jinping is 59 years old. communist party leaders named xi vice chairman of the central commission in 2010. xi's taken an active role in diploma city as well as domestic affairs. >> xi jinping's pather was a vice premier, so xi became part of china's informal princeling network. princelings gain power by taking advantage of their parents and status and ties to influential fingers. but xi didn't have it easy. authorities ousted his father and jailed him during the cultural revolution. xi was forced to work in the countryside as a teenager. he went to a prestigious university in beijing from 1975 to 1979. and then he spent
. >>> the leaders of asia's top economies want to work out a free trade agreement. ramin mellegard joins us from the business desk. there are so many trade negotiations going on worldwide. what are the details in this case? >> catherine, representatives of japan, china, and south korea are trying to get together this month to talk about starting negotiations for a free trade pact. the countries have agreed there are benefits to strengthening economic ties as the move towards free trade accelerates worldwide. leaders of the three countries had agreed in may that they would begin the trade negotiations by the end of this year. been made in working-level meetings but prospects for the talks were unclear in the shadow of the japan/china territory i am dispute over islands in the east china sea. the official launch of fta talks is now expected to get the green light. on the sidelines of the east asia summit in cambodia on november 20th. >>> u.s. president barack obama declared his intention to raise taxes on wealthy americans. he says he wants to discuss this openly with republicans who control the h
>>> hello, here in tokyo and you're watching "asia 7 days." thanks for joining us. let's get right to the news. american voters have chosen barack obama as their leader for another four years. asian heads of state were quick to offer their congratulations, but the u.s. faces hurdles to remain an active player in the fast-growing region. in his first term, obama shifted u.s. foreign policy toward the asia pacific, an area notable for its rapid economic expansion. enthusiasm over obama's reelection rippled through the region. students at an elementary school in the indonesian capital jakarta cheered loudly. obama attended the school when he was in the third grade. japanese prime minister yoshihiko noda contacted the president and pledged his cooperation. u.s. and japan have the opportunity to improve ties, especially since relations between japan and china have soured over the senkaku islands conflict in the east china sea. south korean president lee myung-bak said he's sure the u.s. and south korea will continue to develop their alliance. australia is another key ally in the region.
ace chung leave for the united states in may. he using the internet mostly for his activism. >> translator: the communist party is the biggest violator of the rights of the chinese people. >> reporter: however, his activities are monitored closely. and he continues to be harassed. one time he was attacked by police agents as he left his house. another time he found the tires of his car had been flattened. his wife is also an activist. in this video she's being obstructed as they leave the house. the harassment has extended to the whole family. the situation got so bad that his wife left for hong kong in september together with their daughter who was 4 at the time. they were worried that they were no longer safe in beijing. >> translator: i'm happy that my wife and daughter will be somewhere that's safe and free. but i'm really going to miss them. >> reporter: eleven days after they left on september 18th, hu was placed under house arrest. a week later on october 25th, ahead of the communist party congress hu was moved to a province 1,200 kilometers south of beijing. the auth
Search Results 0 to 4 of about 5